The company behind Bower Place shopping centre’s Sunterra Market has filed notice for protection under bankruptcy and insolvency laws to give it time for financial restructuring.
Sunterra Farms Ltd., Sunterra Food Corp., Sunterra Quality Food Markets Inc., Sunwold Farms Ltd. and Trochu Meat Processors all filed notice on March 24 to creditors that they were going to make proposals under the federal Bankruptcy and Insolvency Act. Calgary-based Harris and Partners has been appointed proposal trustee.
“Please be advised that the Company is not bankrupt and has availed itself to a procedure whereby an insolvent person, with creditor and Court approval, restructures its financial affairs,” say the notices to creditors for the five…
